Hon Hai Precision Industry Co., Ltd, the world's largest electronics manufacturing company also known as Foxconn, has acquired an 8.88% full-diluted stake in camera-maker GoPro for $200 million.

Terry Gou, Foxconn's Founder and CEO, will join GoPro's board.

"Needless to say, we are over the moon to have Terry Gou and Foxconn join us on our mission to scale GoPro into one of the great enabling companies of our time," said GoPro Founder and CEO, Nicholas Woodman. "Foxconn and GoPro see a future where personal content capture and enjoyment will play an increasingly important role in our lives and we're excited to combine efforts to strengthen GoPro's position in that future."